Prognosis
Hospitals Burn Through Cash While Congress Weighs Next Stimulus
- Losses mount as hospitals stop profitable elective surgeries
- U.S. hospital balance sheets under intense stress: Wells Fargo
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U.S. hospitals are burning through cash so quickly on the front lines of the nation’s fight against the coronavirus pandemic that the more than $100 billion they’re set to get from the federal emergency stimulus package might not be enough.
The $2.2 trillion package lets hospitals get an advance on expected Medicare reimbursements and helps make up for lost revenue from suspended, profitable elective surgeries. The rescue funds are intended to help hospitals keep the lights on, and to expand services and buy protective equipment as they race to care for COVID-19 patients.